The story
The Group first commenced its property development business in Shenzhen in 1996, which was established by Miss Zeng Jie, the niece of China's former vice-president, Zeng Qinghong. In 2009, its shares were listed on the Hong Kong Stock Exchange with IPO price of HK$2.2 per share.
On 5 October 2021, Fantasia Holdings missed a payment on a US$206 million bond that had matured the day before, triggering a default. Just weeks prior, the developer had assured investors it had "no liquidity issue". This resulted in fears of contagion from the Evergrande liquidity crisis.
From Wikipedia’s article on Fantasia Holdings, shared under CC BY-SA 4.0.3